Considering a Business Pivot? Here are the 5 “P’s” you must Ponder before you Pounce
by Marleen Fairchild
Considering a Business Pivot? Here are the 5 “P’s” you must Ponder before you Pounce:
1. Passion equals Payment
Here are two P’s for the price of one. Change is often hard on most of us. So, if you’re truly considering a pivot in your business, it should be to get closer to the daily activities and subject matter you’re most passionate about. Consumers don’t pay for lukewarm information. Our hyper-informative society requires cutting edge research, insider exclusives, and poignant strategies that will get right to the point on what they need to know. To deliver these golden nuggets, time and time again, you have to be constantly and rigorously seeking out and developing this type of information to deliver to your audience/customer. Therefore, you must be passionate and engaged before you expect to charge for your expertise.
Not many people write this down in their business plan, but it is an often-understated necessity to business preparation and survival. Most entrepreneurs are very familiar with the term faith and speak candidly about their dependence on God to see them through situations that appear insurmountable from a business standpoint. Ask around, it will not take long to find an entrepreneur who lists faith as a catalyst for taking a leap into the unknown with only a hope and a prayer.